What’s your “saving resolution” for 2019?

Let’s face it, January is always an optimistic month. We’re going to lose weight, we’re going to take that trip, we’re going to de-clutter the house, and so on.

But what are people’s “saving resolutions” for this brave new year? Save with SPP set out to find out.

Over at the Meridian Good Sense blog, writer Cindy Waxer sees several great financial ways to start off the New Year. First, she writes, “tackle credit card debt.” Use some of your Christmas money gifts, or a bonus from work, to pay down higher-interest debt, she advises. Other ideas include saving for retirement, “getting aggressive” with your mortgage, fine-tuning your budget and to “assess your financial situation – honestly.” If you are getting too far into the debt side of the ledger, it’s time to make changes, she notes.

At the Money Aware blog in the UK, ideas include writing down savings goals, sticking to a budget, and “saving in a way that works” for you. If making automated savings withdrawals doesn’t work for you, try anything that works, including “shoving coins in a special money tin” that must be pried open with a can opener.

Save with SPP personally endorses the money tin concept. All our change goes into a little metal piggy bank, and when the bank gets heavy, we dump the coins in one of those money counting machines at the grocery store, deposit the bills in the bank, and then make an SPP contribution. It adds up!

Ideas from US News and World Report include having “no spend” days, spending time to “get healthy… without joining a club,” and using a “fast track” approach to manage debt. “Instead of saying, `I’m going to repay all my debt this year,’ which is a lofty goal, commit to fast-tracking the payoff process. That may mean contributing an extra $50 per month to your debt bill,” the newspaper advises. If possible, use automated bill payments to make the whole process simpler, and build “more” into your debt repayment plans, the article suggests.

When you look at these various articles, a theme emerges. You need to be aware of where your money is going in order to be able to save any of it. Gain control of your spending and you’ll find savings a breeze. And, as we say, socking away even small amounts of money into your Saskatchewan Pension Plan account is something your future you will thank you for – every month!

Here’s wishing everyone a very happy, prosperous, and savings-friendly 2019!

Written by Martin Biefer

Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. After a 35-year career as a reporter, editor and pension communicator, Martin is enjoying life as a freelance writer. He’s a mediocre golfer, hopeful darts player and beginner line dancer who enjoys classic rock and sports, especially football. He and his wife Laura live with their Sheltie, Duncan, and their cat, Toobins. You can follow him on Twitter – his handle is @AveryKerr22